Gold Likely to Open Lower After Global Slide; Domestic Prices May Dip to Rs 1.22–1.23 Lakh per 10 Grams

Gold is expected to open on a weaker note in India on Wednesday, following a sharp 5.5% drop in global prices—the biggest decline since 2020. Analysts suggest that domestic rates could slip to around Rs 1.22–1.23 lakh per 10 grams as investors book profits after the recent rally.The fall in global gold prices has prompted many to cash in on gains, while silver also tumbled over 2%, trading near $47.6 per ounce after a 7.1% drop in the previous session.Asian markets showed mixed trends amid a cautious mood on Wall Street. Experts say the recent slide in precious metals reflects a wave of profit-taking, with investors increasingly wary of gold’s rapid rise this year.

This year, gold surged almost 60%, fueled by concerns over the fiscal health of major economies and hopes of potential interest rate cuts by the US Federal Reserve. Investors also moved towards gold-backed ETFs as central banks diversified away from the dollar. Signs of progress in US-China trade talks have further added to market caution. While gold remains a preferred long-term safe-haven, short-term volatility is expected as investors weigh profits against global economic developments.